Let's face it: There are a lot fewer bargains in the stock market than there were a couple of months ago. It's understandable why Bank of America stock fell. While some companies have suspended their dividends, Bank of America has kept its dividends flowing and should be able to continue doing so.

The financial sector has been one of the hardest-hit parts of the stock market since the COVID-19 pandemic sent the stock market plunging into a bear market earlier this year. With that in mind, here's a quick overview of just how cheap Bank of America has become, why the stock has done so poorly, and why it might be a good bank stock to buy now. After the stock market's sharp rebound since hitting its lows in March, the S&P 500 index is just 4% lower than where it started 2020.

"The events of the past week have created a sense of true urgency that has arisen across our nation, particularly in view of the racial injustices we have seen in the communities where we work and live," Chief Executive Officer Brian Moynihan said. Major cities across the country were hit by the worst civil unrest seen in years following the death of George Floyd last week, with demonstrators setting fire to a strip mall in Los Angeles, looting stores in New York City and clashing with police. Bank of America said its four-year commitment will include programs such as virus testing and other health services, especially focusing on communities of color, support to minority-owned small businesses, and partnerships with historically black and Hispanic educational institutions.

Bank of America announced today that it is making a $1 billion, four-year commitment of additional support to help local communities address economic and racial inequality accelerated by a global pandemic. The programs will be focused on assisting people and communities of color that have experienced a greater impact from the health crisis.

A U.S. judge on Thursday said institutional investors, including BlackRock Inc <BLK.N> and Allianz SE's <ALVG.DE> Pacific Investment Management Co, can pursue much of their lawsuit accusing 15 major banks of rigging prices in the $6.6 trillion-a-day foreign exchange market. U.S. District Judge Lorna Schofield in Manhattan said the nearly 1,300 plaintiffs, including many mutual funds and exchange-traded funds, plausibly alleged that the banks conspired to rig currency benchmarks from 2003 to 2013 and profit at their expense. "This is an injury of the type the antitrust laws were intended to prevent," Schofield wrote in a 40-page decision.